Quantbot Technologies LP Makes New $3.47 Million Investment in The Descartes Systems Group Inc. $DSGX

Quantbot Technologies LP acquired a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 36,844 shares of the technology company’s stock, valued at approximately $3,472,000.

Several other large investors have also recently modified their holdings of the stock. Montrusco Bolton Investments Inc. boosted its holdings in The Descartes Systems Group by 8.8% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 127,963 shares of the technology company’s stock valued at $12,051,000 after acquiring an additional 10,363 shares during the period. Westfield Capital Management Co. LP increased its stake in The Descartes Systems Group by 54.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,001,331 shares of the technology company’s stock worth $94,355,000 after purchasing an additional 351,700 shares during the period. Intech Investment Management LLC lifted its position in The Descartes Systems Group by 7.5% in the third quarter. Intech Investment Management LLC now owns 6,677 shares of the technology company’s stock valued at $629,000 after purchasing an additional 463 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in The Descartes Systems Group in the third quarter valued at approximately $538,000. Finally, Premier Fund Managers Ltd boosted its stake in shares of The Descartes Systems Group by 0.3% during the third quarter. Premier Fund Managers Ltd now owns 410,882 shares of the technology company’s stock valued at $39,157,000 after purchasing an additional 1,369 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DSGX shares. Zacks Research upgraded shares of The Descartes Systems Group from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Morgan Stanley upgraded shares of The Descartes Systems Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 15th. Royal Bank Of Canada set a $126.00 price objective on shares of The Descartes Systems Group and gave the company an “outperform” rating in a research note on Monday, December 1st. BMO Capital Markets dropped their target price on shares of The Descartes Systems Group from $113.00 to $95.00 and set a “market perform” rating for the company in a report on Thursday, December 4th. Finally, Scotiabank reduced their price target on The Descartes Systems Group from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $114.20.

The Descartes Systems Group Stock Up 1.6%

DSGX opened at $67.34 on Tuesday. The Descartes Systems Group Inc. has a 52 week low of $62.56 and a 52 week high of $117.35. The stock has a market cap of $5.79 billion, a PE ratio of 38.05 and a beta of 0.77. The business has a 50 day moving average of $77.42 and a 200-day moving average of $87.79.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last issued its quarterly earnings results on Wednesday, December 3rd. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The company had revenue of $186.78 million for the quarter, compared to analysts’ expectations of $184.24 million. The Descartes Systems Group had a return on equity of 10.57% and a net margin of 22.10%.The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Equities analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.

The Descartes Systems Group Profile

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.